Tax measures were enacted at the end of December 2019 as part of the Budget Law for 2020, and generally are effective 1 January 2020.
The following provides a listing of certain tax measures in the Budget Law for 2020. A report from the KPMG member firm in Italy provides more details about these measures (see below).
Tax measures in Budget Law for 2020
In the Budget Law for 2020, the following briefly summarizes the tax measures enacted at the end of 2019 and effective beginning in 2020:
Concerning income taxes, the Budget Law for 2020 provides for the following items:
Regarding indirect taxes, the Budget Law for 2020:
Finally, the Budget Law for 2020 includes measures concerning reporting by Italian financial institutions under the FATCA regime; a provision that re-unifies local taxes (the tax on municipal real estate (IMU) and the tax on municipal services (TASI)) with one base rate of tax; and new rules on the tax collection procedures by local authorities.
Read a January 2020 report [PDF 253 KB] prepared by the KPMG member firm in Italy
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